XML 61 R54.htm IDEA: XBRL DOCUMENT v3.8.0.1
FINANCIAL RISK MANAGEMENT (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of financial assets that are either past due or impaired [abstract]  
Disclosure of credit risk exposure [text block]
The Company’s maximum exposure to credit risk is as follows:
 
  Year ended December 31
(in millions of U.S. dollars)  2017 2016
Credit risk exposure    
Cash and cash equivalents
 216.2
185.9
Trade receivables
 27.1
37.1
Gold price option contracts
-
17.6
Copper forward contracts
-
0.3
Total financial instrument exposure to credit risk
 243.3
240.9
Analysis of age of financial assets that are past due but not impaired [text block]
The aging of trade and other receivables is as follows:
 
 
As at December 31
(in millions of U.S. dollars)
0-30
days
31-60
days
61-90
days
91-120
days
Over 120
days
2017
Total
2016
Total
Aging trade and other receivables
 
 
 
 
 
 
 
Rainy River
 6.0
 4.8
 6.1
 -
 0.4
 17.3
5.2
New Afton
 (2.3)
 3.7
 -
 -
 -
 1.4
22.5
Mesquite
 0.2
 -
 -
 -
 0.5
 0.7
0.2
Peak Mines(1)
 -
-
-
-
-
-
1.3
Cerro San Pedro
 4.3
 0.5
 0.5
 0.5
 0.5
 6.3
5.5
Blackwater
 0.4
 -
 -
 -
 -
 0.4
0.3
Corporate
 1.0
 -
 -
 -
 -
 1.0
2.1
Total trade and other receivables
 9.6
 9.0
 6.6
 0.5
 1.4
 27.1
37.1
1.
Trade and other receivables as at December 31, 2017 are presented excluding sales generated from Peak Mines, which has been classified as a discontinued operation for the year ended December 31, 2017.
Disclosure of detailed information about contractual maturities of debt commitments [text block]
The following table shows the contractual maturities of debt commitments. The amounts presented represent the future undiscounted principal and interest cash flows, and therefore, do not equate to the carrying amounts on the consolidated statements of financial position.
 
As at December 31
(in millions of U.S. dollars)
< 1 year
1-3 years
4-5 years
After
5 years
2017
Total
2016
Total
Debt commitments
 
 
 
 
 
 
Trade and other payables
 153.7
 -
 -
 -
 153.7
 169.2
Long-term debt
 -
 230.0
 500.0
 300.0
 1,030.0
 900.0
Interest payable on long-term debt
 43.5
 100.8
 100.8
 47.8
 292.9
 252.5
Gold stream obligation
 24.7
 52.4
 54.8
 158.6
 290.5
 277.7
Total debt commitments
 221.9
 383.2
 655.6
 506.4
 1,767.1
 1,599.5
Disclosure of detailed information about currencies of financial instruments and other foreign currency denominated liabilities [text block]
The currencies of the Company’s financial instruments and other foreign currency denominated liabilities, based on notional amounts, were as follows:
 
  As at December 31, 2017
(in millions of U.S. dollars)
CAD  
AUD
MXN
Exposure to currency risk
 
 
 
Cash and cash equivalents
 16.6
 5.9
 1.5
Trade and other receivables
 19.5
-
 6.2
Income tax receivable
 0.4
-
 4.2
Deferred tax asset
 130.5
-
 - 
Trade and other payables
 (141.6)
-
 (11.5)
Deferred tax liability
 (183.9)
-
 (0.1)
Reclamation and closure cost obligations
 (84.6)
-
 (11.7)
Performance share units and restricted share units
 (2.6)
-
 - 
Total exposure to currency risk
 (245.7)
5.9
 (11.4)
 
As at December 31, 2016
(in millions of U.S. dollars) CAD   AUD MXN
Exposure to currency risk      
Cash and cash equivalents
 95.3
 4.6
 1.2
Trade and other receivables
 8.0
 0.5
 5.5
Income tax (payable) receivable
 (1.1)
 (4.5)
 3.1
Deferred tax asset
 173.3
 14.0
 0.9
Trade and other payables
 (118.3)
 (12.0)
 (16.2)
Deferred tax liability
 (321.1)
 (26.1)
 (0.5)
Reclamation and closure cost obligations
 (36.5)
 (13.6)
 (12.2)
Warrants
 (1.3)
 -
 -
Employee benefits
 (1.1)
 (7.9)
 -
Restricted share units
 (2.8)
 -
 -
Total exposure to currency risk
 (205.6)
 (45.0)
 (18.2)
Disclosure of detailed information about changes in foreign exchange rates [text block]
A 10% strengthening (weakening) of the U.S. dollar against the following currencies would have decreased (increased) the Company’s net loss from the financial instruments presented by the amounts shown below.
 
  Year ended December 31
(in millions of U.S. dollars)  2017 2016
Impact of 10% change in foreign exchange rates    
Canadian dollar
 24.6
20.5
Australian dollar
(0.6)
4.6
Mexican peso
 1.1
1.8
Disclosure of detailed information about change in commodity prices [text block]
A 10% change in commodity prices would impact the Company’s net earnings before taxes and other comprehensive income before taxes as follows:
 
 
Year ended December 31, 2017
Year ended December 31, 2016
(in millions of U.S. dollars)
Net
Earnings
Other
Comprehensive
Income
Net
Earnings
Other
Comprehensive
Income
Impact of 10% change in commodity prices
 
 
 
 
Gold price
 52.5
-
 47.4
 -
Copper price
 9.0
-
 22.1
 -
Silver price
 1.1
-
 1.4
 -
Fuel price
 4.6
 0.3
 3.5
 0.1